Smedvig Capital Invests $5 Million in Minut’s Series B Round, Boosting Total Funding to $20 Million

Smedvig Capital has contributed $5 million to the latest funding round of Minut, the leading short-term rental property monitoring company. This injection of capital elevates the Series B round to a substantial $20 million, with participation from existing investors such as Almaz Capital, Zenith, Kompas, Karma, KPN Ventures, SOSV, Verve, and others.

After a year marked by significant growth and innovative product enhancements, Minut strategically expanded its funding round. This move positions the company to intensify its focus on product development and fuel international expansion efforts, including team expansion in both Europe and the USA.

Minut has concentrated its efforts on the rapidly growing short-term rental (STR) market, valued at over $100 billion. Their innovative hardware and software solutions empower hosts and property managers to monitor properties, automate STR operations, and enhance guest experiences. As the STR industry professionalizes, Minut plays a pivotal role in driving operational efficiency and community support.

The fresh investment will be allocated to multiple product initiatives aimed at benefiting Minut’s extensive portfolio of clients, hosts, and property managers. Recently extending their services to hotels globally, Minut aims to improve hospitality industry standards by preventing unauthorized cigarette smoke in hotel rooms.

Innovative features introduced this year include a next-generation sensor capable of monitoring noise both indoors and outdoors, along with a Cigarette Detection feature addressing the prevalent issue of smoking in properties. By consistently introducing new features and strengthening partnerships, Minut is spearheading advancements toward a safer and more conscientious hospitality industry.

Why Minut, and Why Now?

Minut stands as the global leader in short-term rental monitoring, positioned to expand its influence into adjacent verticals. The company’s compelling vision is to become an indispensable “co-host” to its customers. Backed by a dedicated product-focused team with a proven track record, Minut has achieved robust growth across diverse customer profiles and geographies.

Nils Mattison, Co-Founder and CEO of Minut, expressed excitement about Smedvig’s investment, emphasizing the perfect timing for their involvement. The new capital infusion will enable Minut to accelerate product development, leveraging its STR leadership into new verticals and executing an ambitious hiring plan across European and international markets.

Freddie Kalfayan, Senior Associate at Smedvig Capital, highlighted Minut’s exceptional opportunity to lead in short-term rental property monitoring. With a stellar product loved by customers and a roadmap that positions them as a critical “co-host,” Minut is poised to create outstanding guest experiences and operational efficiency for operators globally.

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